Finance Globe

U.S. financial and economic topics from several finance writers.
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3 Signs You May Qualify for a Better Credit Card

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The credit cards you open when you’re just starting out or repairing your bad credit aren’t always the cream of the crop. Sometimes even when you have great credit, you opt for a credit card without knowing you can qualify for something better. It helps to shop around for a credit card to see if you can get better terms – better rewards, better interest rate, or lower fees. Here are a few ways to tell that you might qualify for a better credit card.

You’re receiving better pre-approved credit card offers in the mail. Pre-approved or pre-screened credit card offers can be annoying if you’re not on the market for a credit card. However, they may indicate that you can qualify for a better credit card. If you’re getting offers for credit cards with long promotional rate or high rewards, it might be worth looking into. Keep in mind that pre-approved doesn’t mean guaranteed approval. You can still be denied for a pre-approved offer depending on the specifics of your credit history.

Your credit score has improved since you last opened a credit card. The types of credit cards you qualify for are based directly on your credit score. Consumers with low credit scores often have to rebuild their credit with a secured credit card or subprime credit cards. As your credit score improves, however, you’ll have access to better and better credit cards with more favorable terms. Check your credit score. If it’s improve dramatically since your last credit card application, you may qualify for something better.

Your income has increased since you last opened a credit card. Credit card issuers don’t advertise the income level that’s necessary to qualify for their credit cards. Generally speaking, the higher your income and better your credit score, the more premium credit cards you can qualify for. If your debt levels are low and you have a history of making your payments on time, you may be able to qualify for a better credit card.

Most of the major credit card issuer websites have a tool that allows you to enter your information and see which credit cards you qualify for. These tools often do only a soft check on your credit report, don't hurt your credit, and let you see which of their credit cards you're likely to be approved for. You can also try Finance Globe's Score Match, that matches cards to a score, using a quick search box. If you're wondering whether you might qualify for a better credit card than what you currently have, this is a great way to find out.

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Comments 1

Frank on Saturday, 19 May 2018 14:28

As you check your credit score every year, always keep in mind that could help you get better credit cards with more reviews, higher limits and a lower interest rate.

As you check your credit score every year, always keep in mind that could help you get better credit cards with more reviews, higher limits and a lower interest rate.
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Monday, 19 August 2019

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